On a day of very few events, the Euro has been gaining significantly against the Dollar, which recently saw the near inversion of another yield, as the 7-year Treasury is now trading close to the 1-year values, even surpassing it and creating an inverse curve in some occasions. At the same time, the difference between the 10-year and the 1-year yields revolves just around 0.10, as fears about the size of the slowdown in the US economy continue.
The EURUSD pushed north of 1.13 earlier today and proceeded to break the 200HMA level at 1.1315 later on, despite some intra-day weakness. At the moment, the pair is trading at around the 1.1328 Resistance level, although a stronger Resistance level would stand at 1.1341, where it bounced off on February 13. Indicators are showing signals of weakening though, as the Stochastics indicators suggests a slowdown, something also supported by the MACD as the bars decline after the last hour’s peak, with the RSI shaved off the oversold area and it is currently moving downwards. The next Support level is all the way back to 1.13, which would indicate a very large reversal if it occurs.
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Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
The EURUSD pushed north of 1.13 earlier today and proceeded to break the 200HMA level at 1.1315 later on, despite some intra-day weakness. At the moment, the pair is trading at around the 1.1328 Resistance level, although a stronger Resistance level would stand at 1.1341, where it bounced off on February 13. Indicators are showing signals of weakening though, as the Stochastics indicators suggests a slowdown, something also supported by the MACD as the bars decline after the last hour’s peak, with the RSI shaved off the oversold area and it is currently moving downwards. The next Support level is all the way back to 1.13, which would indicate a very large reversal if it occurs.
Come join us today at HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.